A company had 800,000 shares outstanding at the beginning of the year. On October 1st, the company declared a 3-for-1 bonus issue, resulting in the total shares outstanding increasing to 2,400,000.

The company issued 1,600,000 new shares as a result of the 3-for-1 bonus issue (3 shares for every 1 share held).

Therefore, the total number of new shares issued is 1,600,000.

Shares Outstanding Before Bonus Issue: 800,000

Shares Outstanding After Bonus Issue: 2,400,000

Bonus Issue Ratio: 3-for-1

Calculation of Bonus Issue Shares:

Bonus issue ratio = (Number of new shares issued) / (Number of existing shares)

3 = (New shares) / (800,000)

New shares = 3 - 800,000 = 2,400,000

Explanation:

A 3-for-1 bonus issue means that for every existing share, the company issues 3 new shares. Therefore, the number of shares increases threefold. In this case, the company had 800,000 shares outstanding before the bonus issue and issued 2,400,000 new shares, resulting in a total of 2,400,000 shares outstanding after the bonus issue.